Micron Technology Inc. Q4 Disappoints; Sees Q1 Revenue Beat

gained slightly in the extended session on a higher-than expected revenue forecast for the fiscal first quarter. The Boise, Idaho-based maker of flash and dynamic random access memory computer chips posted fourth-quarter results that missed the Wall Street consensus. But it forecast fiscal first-quarter revenue between $4.45 billion and $4.7 billion. Analysts expected $4.36 billion. The company didn't offer an earnings per-share outlook. In the recent period net income fell to $1.15 billion, or $0.96 a share, from 1.71 billion, or $1.51 a share a year earlier. Revenue grew to $4.23 billion from $2.84 billion last year. Adjusted income for the recent period was $0.82 a share, while analysts expected adjusted earnings of $0.81 a share, on revenue of $4.15 billion. In a sequential comparison with the fiscal third-quarter of 2014, earnings grew 42 percent while revenue was up 6 percent. Micron changed hands recently in after-hours trading up 1.7 percent to $32.25 a share.